Standard & Poor's (S&P) has said it has raised its ratings outlook for AXA to positive from stable.
The company's A/A-1 counterparty credit rating and the A senior unsecured debt rating were affirmed.
S&P credit analyst Laura Santor said the raised outlook reflected the "continuing strengthening of AXA's business fundamentals, including earnings, capitalisation, and competitive position."
"We expect that the ratings on AXA and on most of its core operating entities might be raised if the group continues to strengthen its business fundamentals," Santor added.